Bitcoin Nears $66K as Mt. Gox Moves $130M to Bitstamp
Bitcoin traded near $66,000 as the defunct exchange Mt. Gox began moving its latest tranche of the asset to crypto exchange Bitstamp. Mt. Gox transferred over $2.85 billion worth of Bitcoin to a new wallet and then sent over 5,000 Bitcoin, worth $340 million, to one wallet and another 37,000 Bitcoin, worth $2.5 billion, to another new wallet. Some $130 million worth of Bitcoin from the 5,000 Bitcoin wallet was then transferred to Bitstamp. This movement usually indicates an intention to sell holdings. This comes after Mt. Gox began repaying creditors affected by a 2014 hack, with over $9 billion worth of Bitcoin and $73 million of Bitcoin Cash set to be distributed to traders in the coming months. Bitcoin's value dropped below $67,000 as Mt. Gox started moving assets.
